The White House of President Donald Trump has released an official report to assert the leadership of the United States in the field of digital assets.
A document awaited for years and now finally released that outlines the new directions, from market supervision to rules on stablecoin and taxation.
What does the new report from the Trump administration on cryptocurrencies contain?
The “Trump White House” has released a comprehensive report drafted by the working group on digital assets. The focus: to regulate in a clear and competitive manner Bitcoin, stablecoin, and all digital assets. The document offers detailed recommendations on several crucial fronts:
- Legal clarity: a new “taxonomy” of digital assets to distinguish between securities and commodities.
- Coordinated supervision: collaboration between CFTC and SEC, with particular attention to spot markets.
- New rules for banks: access to custody services and digital assets for clients.
- Geopolitical priority: promotion of stablecoins to strengthen the role of the dollar in global exchanges.
- No to CBDC: proposed regulation to block the creation of a US central bank digital currency.
- Tailored fiscal rules: new taxation regime for crypto-assets, taking into account staking and innovative uses.
An integrated plan, therefore, that aims to transform the United States into a reference hub for financial innovation and blockchain.
Why is the distinction between securities and commodities central?
The report highlights an issue that has remained ambiguous for too long: when a token is a security and when it is a commodity, like Bitcoin? The lack of clarity has often led to lawsuits, innovation blockages, and uncertainty for investors. According to the White House, it is urgent to establish a clear taxonomy of digital assets:
- The tokens considered as commodity will be regulated by the CFTC.
- The assets classified as titoli will fall under the supervision of the SEC.
This division allows for transparent rules, reduces conflicts between authorities (as already seen in the bull cases of XRP) and encourages new energy for innovation and investments.
How does the role of banks change with this regulation?
A revolutionary detail: the report recommends a greater openness of banks towards Bitcoin and other cryptocurrencies. Banking institutions will be able to:
- Safeguard digital assets on behalf of clients.
- Offer new crypto-banking services by simplifying the obtaining of licenses.
- Rely on clearer transparency requirements.
The objective is to enable communication between traditional banks and DeFi innovation, making the system more secure but also competitive on a global level, especially compared to Europe and Asia.
Stablecoin: why are they becoming strategic for the dollar?
In Trump’s strategic vision, stablecoins are an essential lever to strengthen the position of the dollar as the global reference currency in digital payments:
“The widespread adoption of dollar-pegged stablecoins is essential to promote the United States’ currency hegemony”,
it reads in the report.
Among the suggested measures:
- Facilitate the integration of stablecoin in digital payments, while maintaining clear anti-money laundering rules.
- Allow stablecoin issuers to cooperate with law enforcement to freeze/seize illicit assets, effectively equating the operational flexibility of CBDCs.
This setting aims to strengthen the security of digital payments without resorting to forms of centralized surveillance.